March 14, 2017

HB Reavis starts construction of Agora Budapest

HB Reavis starts construction of Agora Budapest

International property developer HB Reavis has gained planning consent for its next new major development, Agora Budapest, situated in the heart of the Hungarian capital near the city’s longest and busiest boulevard, Róbert Károly and Váci road office corridor. The first building, called Agora Hub, received the building permit on Monday 13 March and construction will start on site the same week. The development will bring significant improvement to this part of the city delivering modern and sustainable architecture including green areas and public spaces.

Agora Budapest will play a significant role in the regeneration of the local office market. The building complex, which includes five office buildings and generous public spaces, will be built in several phases and will comprise more than 136,000 sqm GLA of modern office spaces and retail units. The underground garage will provide 2,170 parking spaces including electric car charging points, which are now commonplace in HB Reavis developments. Agora has been designed to cater also for cyclists’ needs with the surrounding cycle lanes being reconstructed and connected. The buildings will house several bicycle storage places and showers.

HB Reavis is working together with the renowned London-based MAKE Architects, the winner of several international architectural prizes, and Hungarian architects FINTA Studio, designer of several iconic buildings, to deliver the project. This world-class office scheme is scheduled for completion in 2023 and will offer well designed office space for 12,000 professionals. The investment into the area is expected to generate 6,000 working opportunities in the coming years.

“The main goal for us when designing Agora was to deliver a new, iconic scheme that fits into the texture of the city but at the same time respects the traditions of Budapest, but still brings modern new architecture value to the capital,” explained Zoltán Radnóty, Country CEO of HB Reavis in Hungary. “An equally important aim for us was to deliver a new work and leisure destination, with friendly, welcoming public spaces filled with lively community programs, great shops and restaurants.”

“We envisage this project to be a natural focal point of the city,” said Florian Frotscher, Concept Architect of Agora Budapest from Make Architects, London. He added: “The language of the architecture aims to be timeless and modern, but is rooted in the rich vernacular of Hungarian architecture through its materiality. We’ve strived to combine local knowledge and international experience to ensure the best possible massing concept of the plot and the best utilization of future community areas.”

As a part of the project there will be green areas the size of 15 tennis courts, decorated with gardens, trees, bushes and grass-covered paths. In the central area of the building complex there will be an outdoor gathering spot, an “agora” formed that will become a new, busy meeting point in the city’s life. When designing the project, particular attention was also paid to the complete renewal of the investment’s surrounding area.

The construction of the project will commence with the 34,500 sq m GLA, eight-storey Agora Hub. Once the building is completed, by the end of 2018, 3,500 people will be working there only 10 minutes away from downtown. With a floor size of 4,500 sqm, Agora Hub will be one of the biggest coherent floor spaces available in the capital, which is a primary attraction to large domestic and international corporations. The building will include a 2,500 sqm co-working space as well, which will be managed by HUBHUB, the new professional subsidiary line of HB Reavis.

The building will include 4,220 sqm of retail space as well as restaurants, cafes, supermarkets, drugstores and medical services. Additionally, there will be a 900 sqm gym available for the tenants and visiting guests, featuring a healthy food bar.

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